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Saudi official source said Riyadh’s oil exports on April will be 7 million bpd while demands are at 7.6 million bpd. The new exports target will keep production well below 10 million bpd, also below Riyadh’s 10.3 million bpd production quota agreed with OPEC members. The decision shows Saudi Arabia’s determination to regain control over oil prices.

Saudi Arabia to Cut Oil Production and Exports for April

Saudi official source said Riyadh’s oil exports on April will be 7 million bpd while demands are at 7.6 million bpd.

The new exports target will keep production well below 10 million bpd, also below Riyadh’s 10.3 million bpd production quota agreed with OPEC members.

The decision shows Saudi Arabia’s determination to regain control over oil prices.

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